Scotiabank to Announce Third Quarter 2025 Results
Scotiabank Results News Release
Financial results will be issued in a press release at approximately 6:00 a.m. ET on Tuesday, August 26, 2025. The results will be available on Scotiabank's Investor Relations Financial Results page
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
17 minutes ago
- Globe and Mail
Iveco Group 2025 Second Quarter
The following is an extract from the 'Iveco Group 2025 Second Quarter' press release. The complete press release can be accessed by visiting the media section of the Iveco Group corporate website: or consulting the accompanying PDF: A quarter of disciplined execution and positive free cash flow. Full year guidance 2025 revised Consolidated revenues amounted to €3,781 million compared to €3,919 million in Q2 2024. Net revenues of Industrial Activities were €3,702 million compared to €3,819 million in Q2 2024, with higher volumes and better mix in Bus and Defence partially offsetting lower volumes in Truck and Powertrain and an adverse foreign exchange rate impact. Adjusted EBIT was €215 million compared to €295 million in Q2 2024, with a 5.7% margin (7.5% in Q2 2024). Adjusted EBIT of Industrial Activities was € 187 million (€264 million in Q2 2024), with cost containment actions in Selling, General & Administrative (SG&A) and Research & Development (R&D) expenses partially offsetting lower volumes and mix, unfavourable pricing and product costs. Adjusted EBIT margin of Industrial Activities was 5.1% (6.9% in Q2 2024), with margin improvements in Bus and Defence. Adjusted net income was €106 million (€182 million Q2 2024) with adjusted diluted earnings per share of €0.39 (€0.63 in Q2 2024). Net financial expenses amounted to €71 million compared to €49 million in Q2 2024. The increase was primarily due to a positive impact of the Argentinian hyperinflation accounting in Q2 2024 (no longer applicable in this country starting from 1 st January 2025) and higher cost of hedge in 2025. Reported income tax expense was €36 million, with an adjusted Effective Tax Rate (adjusted ETR) of 26 % in Q2 2025, which reflects the different tax rates applied in the jurisdictions where the Group operates and some other discrete items. Free cash flow of Industrial Activities was positive at €145 million, an improvement of €243 million compared to Q2 2024, which included a one-off adverse impact linked to the Model Year 2024 launch. The improvement was also due to enhanced working capital resulting from inventory and production optimization. Available liquidity was €4,713 million as of 30 th June 2025 (€4,709 million at 31 st March 2025), including €1,900 million of undrawn committed facilities. Attachment 20250730_PR_IVG_Q2_2025
Globe and Mail
17 minutes ago
- Globe and Mail
How Should Investors Approach UPS Stock Post Q2 Earnings Miss?
Shares of United Parcel Service UPS plunged 10.57% to close July 29's trading session at $90.84. The double-digit decline followed the transportation giant's earnings miss and year-over-year decline in the second quarter of 2025. Although revenues exceeded expectations, they declined year over year. Adding to the woes, the company refrained from providing full-year guidance for revenues or operating profit due to the ongoing macro uncertainty. Following the substantial stock price decline on July 29, the question is whether investors should remain invested in UPS stock or book profits and exit. Let's address this question by evaluating the company's latest quarterly performance and long-term prospects in detail. UPS' Q2 Earnings Snapshot UPS' second-quarter 2025 earnings per share of $1.55 missed the Zacks Consensus Estimate by a penny and declined 13.4% year over year. Revenues of $21.2 billion surpassed the Zacks Consensus Estimate of $20.8 billion but decreased 2.7% year over year. Results were hurt by sinking volumes. On the conference call, CEO Carol Tomé said U.S. consumer sentiment, which was near historic lows during the quarter, hurt the small package market. The CEO further said the ongoing tariff situation caused consumers to start trading down in certain categories. UPS expects capital expenditures for 2025 to be around $3.5 billion. Is UPS' Overall Share Performance Just as Disappointing? The answer to the above question is, unfortunately, yes. Shares of United Parcel Service have plunged 28% year to date compared with its Zacks Transportation—Air Freight and Cargo industry's 16% decline. Rival FedEx 's FDX price performance is better than that of UPS. YTD Price Comparison Longer-term, over the past year, too, UPS shares have performed worse than its industry and FedEx. While UPS has plunged in excess of 30%, its industry and FedEx have declined 21% and 22%, respectively, in a year. Factors Hurting UPS Stock Demand Slowdown: A Grave Concern: Due to the decline in shipping demand, volumes are being hurt. Lackluster volumes have been hurting United Parcel Service's results. The slowdown in online sales in the United States, apart from the softness of global manufacturing activity, has been hurting the demand scenario. Average daily volumes on a consolidated basis have declined 3.8% year over year in the first half of 2025. Economic Uncertainty & Tariff Concerns: Of late, U.S. markets have been characterized by a high degree of volatility amid uncertainty surrounding U.S. trade policy and growing anxiety about a slowing U.S. economy. Volatility is likely to persist in the U.S. stock market going forward due to uncertainty over the timing of the next interest rate cut, new tariffs and ongoing geopolitical tensions. UPS Hikes Dividend: But is it Sustainable? In February, UPS management announced a 0.6% hike in its quarterly dividend payout to $1.64 per share (annualized $6.56 per share). No doubt this represents UPS' shareholder-friendly approach, but questions about the sustainability of its dividend arise. United Parcel Service's elevated dividend payout ratio (the percentage of net income paid out as dividends) of 84% highlights the concern associated with its ability to maintain dividend payouts over the long term. We remind investors that in the early 2020s, when UPS' business was flourishing, driven by exponential e-commerce growth during the peak pandemic period, the company made huge dividend payments. Free cash flow has been on a decline since touching a high of $9 billion in 2022. Currently, UPS' elevated dividend payout is hurting its operational flexibility, with free cash flow barely covering the dividend. At 2024-end, free cash flow was $6.3 billion, not much above its dividend payments of $5.4 billion. Dividend payments are expected to be roughly $5.5 billion. Unfavorable Earnings Estimates Movement: The Zacks Consensus Estimate for 2025 adjusted earnings for UPS is currently pegged at $7.03 per share, indicating an 8.9% year-over-year decline. The consensus mark for 2025 revenues suggests a 4.1% decline from 2024 actuals. The Zacks Consensus Estimate for 2025 earnings has been revised 0.7% downward over the past 60 days. UPS' Valuation: A Saving Grace UPS is currently considered relatively undervalued, trading at a forward 12-month price to earnings (P/E) of 11.99X. This figure is lower than its industry average of 13.2X. It is also lower than that of FedEx. UPS currently has a Value Score of B. UPS' P/E F12M vs. Industry & FDX Don't Buy UPS Now: Near-Term Headwinds Are Hard to Ignore Agreed that UPS' valuation is attractive. Moreover, United Parcel Service's expansion efforts look good. In a bid to expand its network, UPS acquired Estafeta, a Mexican express delivery company. The company's cost containment efforts are also aimed at driving long-term growth. As part of this exercise, UPS is offering buyouts to delivery drivers for the first time in its 117-year history. United Parcel Service's full-time drivers are eligible for this offer. The company aims to trim its workforce by 20,000 this year, representing approximately 4% of the global workforce, and shut 73 facilities to streamline operations and lower labor costs. Apart from the tariff-induced economic uncertainties, UPS' decision to reduce business with its largest customer, Amazon AMZN, contributed to the decision to trim the workforce. Earlier in the year, UPS management reached an agreement in principle with Amazon to lower the latter's volume by more than 50% by June 2026. According to Carol Tome, Amazon was not its most profitable customer. However, near-term risks outweigh the positives. Tariff-related uncertainty, concerns related to dividend sustainability, and volume woes represent major headwinds. Declining earnings estimates do not help matters. Given these challenges, buying the stock, despite the significant price decline, seems premature now. We believe investors should steer clear of this stock, which currently carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here. #1 Semiconductor Stock to Buy (Not NVDA) The incredible demand for data is fueling the market's next digital gold rush. As data centers continue to be built and constantly upgraded, the companies that provide the hardware for these behemoths will become the NVIDIAs of tomorrow. One under-the-radar chipmaker is uniquely positioned to take advantage of the next growth stage of this market. It specializes in semiconductor products that titans like NVIDIA don't build. It's just beginning to enter the spotlight, which is exactly where you want to be. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report United Parcel Service, Inc. (UPS): Free Stock Analysis Report FedEx Corporation (FDX): Free Stock Analysis Report
National Post
17 minutes ago
- National Post
J.B. Poindexter & Co., Inc. Announces Proposed Private $200 Million Senior Unsecured Notes Offering
Article content HOUSTON — J.B. Poindexter & Co., Inc. (the 'Company'), a privately-held company, today announced that it intends to offer $200 million aggregate principal amount of senior unsecured notes due 2031 (the 'New 2031 Notes') in a private offering. The New 2031 Notes, if issued, will form a single series with, and have the same terms as, the Company's outstanding 8.750% senior notes due 2031 that were previously issued on December 18, 2023 (other than with respect to the issue price and the issue date). The New 2031 Notes will be guaranteed by certain subsidiaries of the Company. The offering of the New 2031 Notes is subject to market and other conditions. Article content The Company intends to use the net proceeds from the offering (i) to pay related fees and expenses and (ii) to repay the Company's $175 million bridge credit facility. The Company intends to use any remaining net proceeds to repay the Company's asset-based lending facility. Article content Article content The New 2031 Notes will be offered by the initial purchasers only to persons reasonably believed to be 'qualified institutional buyers' in reliance on Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'), and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act. The New 2031 Notes have not been, and will not be, registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the New 2031 Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. Article content About J.B. Poindexter & Co., Inc. Article content J.B. Poindexter & Co., Inc. is a privately-held company that, through its business units, designs, manufactures and markets commercial truck bodies, step vans and delivery vehicles, pick-up truck caps and tonneau covers, ambulances and buses, service/utility truck and van bodies, commercial vehicle storage and shelving systems, funeral coaches and limousines, and expandable foam packaging products. Since its formation in the mid-1980s, J.B. Poindexter & Co., Inc. has grown to be a manufacturing-focused business with four of its eight business units having leading market shares in their respective served markets in the United States and Canada. Article content Forward-Looking Statements Article content This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words 'believe,' 'expect,' 'expected,' 'anticipate,' 'intends,' 'estimate,' 'forecast,' 'project,' 'should,' 'may,' 'will,' 'would' or the negative thereof and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include statements related to the Company's intentions regarding the timing and completion of the offering; the intended use of proceeds; and other matters. These statements involve risks and uncertainties, and actual results may differ. These risks and uncertainties include, but are not limited to, our ability to consummate the offering; market conditions relating to the issuance of debt securities; and other risks set forth in the offering documentation. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates. Article content Article content Article content Article content Article content Article content
